Hormel Foods Distributes Annual Profit Sharing

$17.5 million distributed in the 79th consecutive year of the program

News provided by

Nov 22, 2017, 07:00 ET

AUSTIN, Minn., Nov. 22, 2017 /PRNewswire/ -- Hormel Foods Corporation (NYSE: HRL) today distributed its annual profit sharing of $17.5 million to eligible hourly and salaried employees during this 79^th annual Thanksgiving Eve Day tradition.

"We continue to grow our brands and reach consumers in more ways than ever before," said Jim Snee, chairman of the board, president and chief executive officer at Hormel Foods. "The dedicated and inspired people of Hormel Foods are the greatest resource we have and the key reason Hormel Foods is able to maintain and expand its success. We are proud to once again celebrate our achievements through this year's profit sharing contribution, a program that is unique in our industry."

The profit sharing program was started by Jay C. Hormel in 1938 and is voluntarily paid at the discretion of the company's Board of Directors.

About Hormel Foods – Inspired People. Inspired Food.™
Hormel Foods Corporation, based in Austin, Minn., is a global branded food company with over $9 billion in annual revenue across 75 countries worldwide. Its brands include SKIPPY^®, SPAM^®, Hormel^® Natural Choice^®, Applegate^®, Justin's^®, Wholly Guacamole^®, Hormel^® Black Label^® and more than 30 other beloved brands. The company is a member of the S&P 500 Index and the S&P 500 Dividend Aristocrats, was named one of "The 100 Best Corporate Citizens" by Corporate Responsibility Magazine for the ninth year in a row, and has received numerous other awards and accolades for its corporate responsibility and community service efforts. In 2016, the company celebrated its 125^th anniversary and announced its new vision for the future - Inspired People. Inspired Food.™ - focusing on its legacy of innovation. For more information, visit www.hormelfoods.com and https://csr.hormelfoods.com/.